Select International Correlations

Mutual Funds . USA . 
Fund . Select International Equity
RTIRX Fund  USD 12.01  0.03  0.25%   
The current 90-days correlation between Select International and International Developed Markets is 0.98 (i.e., Almost no diversification). The correlation of Select International is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Select International Correlation With Market

Very weak diversification

The correlation between Select International Equity and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select International Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Select International Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Select Mutual Fund

  1.0RNTTX International DevelopedPairCorr
  0.93RREAX Global Real EstatePairCorr
  0.93RREYX Global Real EstatePairCorr
  0.93RRESX Global Real EstatePairCorr
  0.92RRSCX Global Real EstatePairCorr
  0.93RRSRX Global Real EstatePairCorr
  0.97RALAX Growth StrategyPairCorr
  0.97RALCX Growth StrategyPairCorr
  0.97RALSX Growth StrategyPairCorr
  0.97RALRX Growth StrategyPairCorr
  0.97RALVX Growth StrategyPairCorr
  0.65RSBRX Strategic BondPairCorr
  0.86RSBTX Short Duration BondPairCorr
  0.86RSBYX Short Duration BondPairCorr
  0.93RSCRX Us Small CapPairCorr
  0.83RSBCX Short Duration BondPairCorr
  0.95RSECX Us Strategic EquityPairCorr
  0.95RSEAX Us Strategic EquityPairCorr
  0.95RSESX Us Strategic EquityPairCorr
  0.85RSDTX Short Duration BondPairCorr
  0.97RAZAX Multi Asset GrowthPairCorr
  0.97RAZCX Multi Asset GrowthPairCorr
  0.94RSQAX Us E EquityPairCorr
  0.88RBCUX Tax Exempt BondPairCorr
  0.64RSYTX Strategic BondPairCorr
  0.97RBLCX Balanced StrategyPairCorr
  0.97RBLAX Balanced StrategyPairCorr
  0.97RBLSX Balanced StrategyPairCorr
  0.97RBLVX Balanced StrategyPairCorr
  0.97RBLRX Balanced StrategyPairCorr
  0.95RTDAX Multifactor EquityPairCorr
  0.95RTDCX Multifactor EquityPairCorr
  0.95RTDYX Select EquityPairCorr
  0.95RTDSX Select EquityPairCorr
  0.95RTDRX Select EquityPairCorr
  0.95RTDTX Select EquityPairCorr
  0.86RTEAX Tax Exempt BondPairCorr
  0.85RTECX Tax Exempt BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Select Mutual Fund performing well and Select International Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Select International's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNTTX  0.51  0.13  0.08  0.43  0.32 
(0.60)
 1.27 
(0.95)
 3.12 
RREAX  0.52  0.04 (0.04) 0.24  0.59 
(0.53)
 1.36 
(1.15)
 3.71 
RREYX  0.52  0.05 (0.04) 0.24  0.58 
(0.52)
 1.34 
(1.17)
 3.68 
RRESX  0.52  0.05 (0.04) 0.24  0.61 
(0.52)
 1.41 
(1.14)
 3.68 
RRSCX  0.52  0.04 (0.04) 0.23  0.63 
(0.52)
 1.36 
(1.14)
 3.70 
RRSRX  0.52  0.05 (0.04) 0.24  0.61 
(0.54)
 1.38 
(1.14)
 3.71 
RALAX  0.46  0.09  0.06  0.26  0.33 
(0.53)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.08  0.06  0.26  0.35 
(0.51)
 1.46 
(1.08)
 3.46 
RALSX  0.46  0.09  0.06  0.27  0.35 
(0.51)
 1.46 
(1.12)
 3.31 
RALRX  0.46  0.09  0.06  0.27  0.34 
(0.51)
 1.46 
(1.12)
 3.30 

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